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It's pretty funny that there are people in this thread pretending like "price discovery" is a real thing that happens in markets based on information. We've all
by ForHackernews 1y ago
It's pretty funny that there are people in this thread pretending like "price discovery" is a real thing that happens in markets based on information. We've all seen Dogecoin and BBBYQ. The emperor has no clothes.
- abm53 1y agoWe could make the distinction between price discovery, i.e. what price are people currently willing to buy and sell at (short-term) vs value discovery (long-term).
- ForHackernews 1y agoIn the short term the market is a blockchain-enabled voting machine but in the long term it's an Elon Musk tweet-weighing machine.